Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) - Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable …
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Sri Lanka’s Hemas Group profit down 5-pct in 3Q amid on-going recovery
Feb 14, 2020 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 974.7 million …
Sri Lanka performs poorly on economic freedom: Focus on open trade crucial: Advocata
Sri Lanka currently ranks 104 out of 162 countries for Economic Freedom (Economic Freedom of the World Index, 2019). This is a 7 step drop from last year’s …
Hayleys Group records 41-pct profit growth in Q3
Feb 13, 2020 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41 …
Fitch rates DFCC’s Basel III sub-debt A+(EXP)
Feb 13, 2020 (LBO) – Fitch Ratings has assigned DFCC Bank's proposed rupee-denominated Basel III-compliant subordinated debentures an expected National …
Ogilvy Digital, now a behavioural change company
Neo@Ogilvy, Sri Lanka’s first and largest full service specialized digital media agency announced today its transformation into ‘Ogilvy Digital’, to …
Dipped Products reports Rs. 23.2Bn Group turnover for nine months ending Dec 2019
Feb 13, 2020 (LBO) - Hayleys Group’s subsidiary Dipped Products PLC (DPL), a glove maker, reported 23.2 billion rupees Group turnover for the nine months …
WHT removal, a progressive step for MSMEs: Colombo Chamber of Commerce
Feb 12, 2020 (LBO) – Removal of withholding tax on salaries, interest, rent, and dividends is a progressive step for Micro, Small and Medium-sized …
Fitch affirms HNB Finance at A(lka); outlook stable
Feb 12, 2020 (LBO) – Fitch Ratings Lanka has affirmed HNB Finance Limited's (HFL) National Long- Term Rating at 'A(lka)' with a stable outlook. The agency …
Land an investment tool: Creates greater appeal for affluent
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial …
Sri Lankan Airlines corruption scandal reveals need for deeper structural reform in SoEs : Advocata
Weak governance has led to large scale corruption in state enterprises. Sri Lankan airlines has made Rs. 169 billion in losses since nationalisation in 2009. …
Sri Lanka can boost its development tapping agriculture and new technology : WB
Feb 05, 2020 (LBO) - The World Bank reaffirmed its continued support to Sri Lanka’s growth and development for the benefit of all its people, …
Crysbro energises sustainable farming practices with solar power
Feb 03, 2020 (LBO) - In a major step in its continual efforts to embrace sustainable farming practices across all layers of its operations, leading Sri Lankan …
President orders full probe into allegations over Airbus deal
Feb 03, 2020 (LBO) - President Gotabaya Rajapaksa has ordered a comprehensive investigation into reports of allegations over financial irregularities said to …
Current trends may lead to undesirable turnaround in market lending rates
Jan 30, 2020 (LBO) – Market lending rates have adjusted downwards, in response to monetary and regulatory measures taken by the Central Bank, but the pace of …
Sri Lanka’s private sector credit growth picks up in December
Jan 30, 2020 (LBO) – Growth of credit extended to the private sector has picked up in December 2019, on a year-on-year basis, following a continued slowdown …
Colombo Chamber submits proposal to effectively implement SME moratorium
Jan 29, 2020 (LBO) – Colombo Chamber of Commerce has decided to submit several proposals for the effective implementation of the moratorium for SMEs and …
Maldivian hotels resume operations, Avg room rates above expectations: JKH
Jan 29, 2020 (LBO) – Sri Lanka’s diversified John Keells Holdings says that all four of their Maldivian hotels are now in operation with the completion of …
John Keells Holdings Dec quarter net profit down by 50-pct
Jan 29, 2020 (LBO) – Profit attributable to equity holders of Sri Lanka’s diversified John Keells Holdings in the third quarter at 2.40 billion rupees is a …
Sri Lanka SME credit support scheme has limited effect on banks: Fitch Ratings
Jan 29, 2020 (LBO) – A scheme for Sri Lankan banks to provide special credit support to SMEs this year should not have a material effect on banks' credit …